For Immediate Release
Press Release
Kinshasa, Democratic Republic of the Congo (DRC) – Today, the Government of the United States, through the United States Agency for International Development (USAID) and Prosper Africa, announced a new grant under the $20 million Africa Trade and Investment (ATI) Critical Minerals activity.
ATI bolsters USAID’s ability to boost trade and investment on the African continent by identifying and developing trade and investment opportunities in DRC’s minerals sector. The program works to bring value to the private sector and position the continent for future growth. Through this program, the U.S. Government also aims to mobilize private sector capital, resources, and expertise, resulting in the increased capacity and competitiveness of businesses, investors, and intermediaries that will drive future trade and investment.
During last year’s DRC Mining Week, the U.S. Government launched an Annual Program Statement (APS) seeking innovative concepts from the private sector with the potential to quickly generate new exports and investment in responsible critical minerals projects. Since then, ATI has received over 40 concepts. Through a highly competitive process, and in collaboration with the DRC Ministry of Mines, USAID narrowed down the concepts to a select handful for co-design. USAID is pleased to announce the launch of the first grant under ATI:
ROK Metals is a Congolese copper cathode processing plant in Likasi that has U.S. private sector investment. The $2 million USAID grant will allow the company to increase copper cathode production from 52 tons to 1,150 tons per month and cobalt hydroxide production from 28 tons to 250 tons per month. These exports will go to the U.S. and other markets.
Increasing diverse and responsible investments, particularly in cobalt, copper, and other critical minerals vital for the green energy transition, provides a significant opportunity to catalyze sustainable development in the DRC and to build upon USAID’s long-term support to the DRC’s minerals sector. For over two decades, USAID has supported the development of public-private partnerships promoting sustainable corporate social responsibility and human rights, as well as working in the artisanal and small-scale mining sector, particularly the legal export of conflict minerals such as tin, tantalum, tungsten, and gold.
About USAID
USAID is the world's premier international development agency and a catalytic actor driving development results. The USAID Africa Trade and Investment (ATI) program is designed to bolster USAID’s ability to boost trade and investment to, from, and within the African continent. ATI, a continent-wide program, is USAID’s flagship effort under the Prosper Africa initiative. The program allows the U.S. Government to work closely with the private sector to shape activities that unlock business opportunities, particularly those that drive trade and investment into and out of African markets.
About Prosper Africa
Prosper Africa is a U.S. Government initiative to increase two-way trade and investment between the United States and African countries. Prosper Africa brings together – and enhances – the full suite of U.S. Government services and resources to help companies and investors do business in U.S. and African markets. Through the initiative, the U.S. Government is launching innovative new tools to advance deals, unlock market opportunities, and strengthen business and investment climates. Visit www.prosperafrica.gov for more information.
Contacts
For more information please email info@atiprogram.com.